The ISEQ index of Irish shares was up 17.77 points to close at 5401.27.
The value of shares traded on the Irish Stock Exchange rose by 36% to €21.9bn in the first three months of 2004.
Excluding trading in the Eircom Group, the value of shares traded on the Iseq was up by 34.5% to €21.7bn.
Irish Stock Exchange chief executive, Tom Healy, said: "Trading volumes continue to grow strongly and the first IPO in 2004 was a success with active investor interest from domestic and international institutions."
Pharmaceutical firm Elan fell €1.14 to €16.38 as profit takers moved in.
Technology firm Iona was up 25c to €6.95.
Ryanair was up 16c to €5.21 after positive traffic figures and rumours from Italy that AlItalia was close to collapse. The Irish low fares airline serves 15 airports and operates two bases in Italy. Analysts believe it is well placed to capitalise on any fallout from AlItalia.
Financials were ahead again with AIB up 10c to €12.80, Bank of Ireland up 13c to €10.77 while Anglo Irish bucked the trend, down 30c to €13.05.